CUS Futures(DEC4) Price, News, Quotes

7.2503
+0.0057+0.08%

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Spinee

Oct 19, 2022 02:47

USD, RMB, interest rates, economic stimulus and trade

The Fed is increasing interest rates which causes the USD to appreciate v other currencies.
China does not have a formal peg but is defending the value of the RMB visa vi the USD by selling USD and buying RMB.
At the same time China is also reducing interest and adding stimulus to both the economy and the stock market.
But, if the USD keeps appreciating, China will have a tough choice to face: defend the RMB, which will cause their exports to...

Ahh_gee_Joey

Jul 15, 2022 09:03

Australian iron ore supplier embraces Chinese market with yuan settlement

$BHP Group Ltd (BHP.AU)$
Overseas mines carrying out yuan settlement for spot trades at ports.
BHP hailed recently its first shipment of yuan-based spot trade iron ore to dock at a port in East China's Shandong Province.
The arrival marks the official beginning of BHP's Shanghai branch, a wholly-owned subsidiary, since it was recently established to better serve clients in China, the largest iron ore importer in the world. ...

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